What is ApeCoin (APE)?

The explosive popularity of the NFT project called ‘Bored Ape Yacht Club (BAYC)’ is going wild, and now it’s reaching new milestones with the introduction of a new NFT collection called Mutant Ape Yacht Club (MAYC). Recently, Mutant Ape Yacht Club (MAYC) has launched its own native token called ‘ApeCoin (APE)’, which has garnered increased interest since its launch. Beyond the fluctuations in price and market size, it’s intriguing to contemplate how ApeCoin (APE) is utilized in the Web 3.0 economy.


You’ve probably come across the Bored Ape Yacht Club (BAYC), the incredibly popular NFT collection that seems to be everywhere these days. Those unique bored ape NFTs are hard to miss, as they’re all over the place. And within this collection, there’s a token called ApeCoin (APE).

Yuga Labs, the creator of the Bored Ape Yacht Club, has designated ApeCoin as the main token for all their projects. This includes other NFT series like Mutant Ape Yacht Club (MAYC) and Bored Ape Kennel Club (BAKC). In essence, there exists an APE ecosystem, and ApeCoin acts as its primary token. But what exactly does this token do? We’ll delve into that and more, starting with an explanation of what ApeCoin is.

What is ApeCoin (APE)?

ApeCoin (APE) is an ERC-20 token built on the Ethereum blockchain. It was launched by the ApeCoin DAO, a decentralized autonomous organization that acts as a governing body for all ApeCoin holders. The token was initially airdropped to individuals who owned NFTs from the Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) collections, making it one of the most valuable airdrops in cryptocurrency history. Each holder of a BAYC NFT had the opportunity to claim APE tokens worth over US$100,000 at the time of launch.

By holding APE tokens, users become part of the ApeCoin DAO and gain membership in the Ape decentralized autonomous organization (ApeDAO). This membership enables them to actively participate in voting on proposals for system improvements and govern the community associated with the token.

In addition to its governance role, APE serves as a utility token and currency within web3 projects, particularly in the fields of gaming and metaverse worlds. It plays a crucial role in facilitating seamless transactions and interactions within decentralized ecosystems, enhancing the overall user experience and fostering active participation.

In summary, ApeCoin (APE) represents the future of culture, art, gaming, and entertainment through blockchain technology, with the ApeCoin DAO providing a platform for community-driven initiatives and ideas to thrive.

How was ApeCoin Developed?

ApeCoin (APE) was developed through a collaborative effort involving key entities in the blockchain and NFT space. The original Bored Ape Yacht Club (BAYC) collection, which laid the foundation for ApeCoin, was created by Yuga Labs. Yuga Labs, led by CEO Nicole Muniz, is a company that was founded in February 2021 and has been instrumental in driving significant revenue through its various collections, including BAYC, Mutant Ape Yacht Club (MAYC), and Bored Ape Kennel Club (BAKC).

The development of ApeCoin involved the submission of ApeCoin Improvement Proposal-1 (AIP-1), which established the ApeDAO and provided creative direction for the token. AIP-1 was submitted by a co-founder of Cartan Group LLC, a consulting firm based in the Cayman Islands.

In March 2022, under the guidance of the ApeDAO, the APE token was officially released. The token was distributed to NFT holders, the ApeDAO treasury, and various stakeholders, including Yuga Labs, the Cartan Group, and the APE Foundation along with its board members.

The Ape Foundation Board comprises notable individuals such as Alexis Ohanian, co-founder of Reddit, Yat Siu from Animoca Brands, a developer and venture capital group, and Amy Wu, an investor at FTX, among others. Their role is to ensure the implementation of decisions made by the ApeDAO, which is governed by holders of the APE token.

While Yuga Labs does not have direct control over ApeCoin, the company received a significant portion of the total APE token supply, and their involvement is recognized as a contributor to the project.

How Does ApeCoin Work?

During the initial launch, ApeCoin (APE) could be claimed by holders of Bored Ape Yacht Club (BAYC) and Mutant Ape Yacht Club (MAYC) NFTs. The number of APE tokens that could be claimed varied depending on the specific NFTs owned by the holders. For example, Bored Ape holders could receive 10,094 APE, while those who also held a Bored Ape Kennel Club NFT could receive 10,950 APE. Mutant Ape holders were eligible for a smaller amount, with a total of 2,042 APE. If a Mutant Ape holder also had a Bored Ape Kennel Club NFT, they could receive 2,989 APE.

APE operates as an ERC-20 token on the Ethereum blockchain, making it fungible and interchangeable with other tokens. This allows for flexibility in its use as both a governance token and a currency within projects that integrate it. The developers of ApeCoin have outlined four main purposes for APE:

1. Governance: APE holders can actively participate in the ApeDAO, where they have a voice in making decisions regarding the community’s direction and future collaborations.

2. Currency: APE can be used as a decentralized currency powered by the Ethereum blockchain, enabling users to make transactions and engage in economic activities within the Ape ecosystem.

3. Incentivization: Developers of new blockchain projects, such as games or metaverses, can incorporate APE into their projects, fostering collaboration and participation within the Bored Ape ecosystem.

4. Incentivization: Developers of new blockchain projects, such as games or metaverses, can incorporate APE into their projects, fostering collaboration and participation within the Bored Ape ecosystem.

By leveraging APE for governance, transactions, access, and incentivization, the ApeCoin ecosystem aims to create a vibrant and engaging community within the broader NFT and blockchain space.

ApeCoin Allocation

The total supply of ApeCoin (APE) is permanently fixed at 1 billion tokens, and the smart contract governing its creation ensures that no additional tokens can be minted. Similarly, there is no mechanism in place for burning tokens, meaning that the token supply will remain constant.

To ensure a fair distribution, a portion of the tokens allocated to contributors will be locked initially. These locked tokens will be gradually unlocked over a period of 48 months, starting from the launch date of March 17, 2022, following a predetermined schedule.

ApeCoin will be distributed among four main groups, as shown in the chart below.

Allocation of ApeCoin (APE). Source: ApeCoin

What is the APE Ecosystem?

The APE ecosystem is composed of various products and services that utilize ApeCoin as their primary token. It is driven by the community holders of ApeCoin and the projects associated with it. Yuga Labs, a renowned name in the NFT and digital collectibles space, is a key contributor to the ecosystem.


The Bored Ape Yacht Club (BAYC) is one of the flagship NFT collections within the APE ecosystem. It was launched in April 2021 and consists of 10,000 unique and algorithmically generated profile pictures of cartoon apes. Each Bored Ape has its own distinct appearance, style, and rarity.

Mutant Ape Yacht Club (MAYC)

The Mutant Ape Yacht Club (MAYC) is another NFT collection that complements the BAYC. It includes up to 20,000 mutated versions of the BAYC Apes. Original BAYC NFT holders received 10,000 mutant serums in three tiers through an airdrop, adding rarity to the traits of their Apes.

Bored Ape Kennel Club (BAKC)

The Bored Ape Kennel Club (BAKC) is an assortment of dog NFTs launched for all members of the BAYC. Holders of Bored Ape NFTs can adopt a random Club Dog NFT by simply paying for gas fees. BAKC NFTs also possess their own unique levels of rarity.

Otherside Metaverse

Additionally, Yuga Labs ventured into the Otherside metaverse by minting virtual real estate lands. Within a short span of time, the value of the lands surpassed $100,000, and the total sales reached an impressive $320 million, solidifying BAYC’s position as one of the top-selling NFT collections.

Is ApeCoin a Good Investment?

Investing in ApeCoin can be an appealing option due to its association with the vibrant and engaging Bored Ape Yacht Club community. With its strong appeal to enthusiasts of arts, culture, gaming, and entertainment, ApeCoin has garnered significant interest. Additionally, the upcoming metaverse land sales are expected to provide a further boost to the coin’s value.

There are multiple compelling reasons to consider purchasing ApeCoin. Its utility as a payment option, potential NFT rewards, and access to exclusive features within the APE ecosystem offer enticing incentives for buyers. However, it’s important to note that the coin is subject to the inherent volatility associated with NFTs. It’s crucial to exercise caution and conduct thorough research before making any investment decisions.

The Path Forward

In the midst of the NFT frenzy in the cryptocurrency world, ApeCoin has emerged as a standout player, capturing the attention and interest of investors. The creators of the token have implemented various incentives to enhance its utility and appeal. One notable aspect is the integration of ApeCoin into third-party projects, allowing for wider adoption and usage. Additionally, the establishment of an ecosystem fund demonstrates a commitment to supporting initiatives utilizing the coin.

ApeCoin boasts a diverse range of use cases, from facilitating decentralized payments to enabling land sales within the metaverse. These practical applications contribute to the overall strength of the company’s ecosystem. As the APE community continues to expand and evolve, the value of ApeCoin is expected to grow exponentially, surpassing realistic expectations. It’s essential to closely monitor the developments and progress of the APE ecosystem when considering ApeCoin as an investment option.


In conclusion, ApeCoin presents an intriguing investment opportunity within the booming NFT market. As part of the vibrant Bored Ape Yacht Club community, ApeCoin has garnered significant interest from art, culture, gaming, and entertainment enthusiasts. Its utility as a payment option, potential NFT rewards, and exclusive features within the APE ecosystem make it an appealing choice for investors. However, it’s crucial to exercise caution and consider the inherent volatility of NFT-related investments. Monitoring the growth of the APE ecosystem and staying informed about market trends will be key in assessing the potential long-term value of ApeCoin as an investment.

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